Battle still on for Rolls
Article Abstract:
Vickers has made an agreement in principle for BMW to acquire Rolls-Royce, but Volkswagen may increase its bid. An offer may also be made by a group of enthusiasts seeking to keep Rolls-Royce British. BMW is seen as the strongest contender, and Vickers is likely to recive a minimum of 340 million pounds sterling, with some 60 million pounds worth of additional benefits. BMW could bid more if there is a larger, rival bid for Rolls. This could mean special dividends or stock buy-backs for Vickers stockholders.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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GM to take the wheel
Article Abstract:
General Motors (GM) has been given the right to control Saab by 2000. GM already owns half of Saab and has reached an agreement with Investor, Saab's joint owner. Saab reported a loss for 1st qtr 1996 though had previously moved into profit. The company aims to boost sales through investing in development, marketing and sales. Both Investor and GM are putting new funds into Saab in the 18 months from Jun 1996 but this may not result in a rise in profits to the desired extent.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Luxury cars sold to different owners
Article Abstract:
Rolls-Royce and Bentley motor cars have been sold by Rolls-Royce after a compromise agreement with Volkswagen and BMW. BMW was initially to have bought the operation, but Volkswagen made a better deal. Bentley has been acquired by Volkswagen, and Rolls-Royce by BMW. BMW will supply components and engines until 2003, and Volkswagen will owns a specialist engine plant at Cosworth, and a factory in Crewe, England. Bentley represents 70% of the production at Crewe.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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Comment about this article or add new information about this topic:
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